[Congressional Record (Bound Edition), Volume 155 (2009), Part 18]
[Senate]
[Pages 24930-24931]
[From the U.S. Government Publishing Office, www.gpo.gov]




                            THE FEDERAL DEBT

  Mr. DURBIN. Madam President, we have had an ongoing debate on the 
floor about health care reform, its cost, whether it is going to add to 
the deficit. We had an exchange yesterday or the day before with 
Senator McConnell, the Republican leader. We talked a little bit about 
the debt America faces and how this debt came about.
  Senator Kyl, my Republican counterpart, Republican whip from Arizona 
and a friend of mine, came to the floor and carried on this dialog and 
debate. When you consider the Senate Chamber is supposed to be about 
debate, it is all good that he would do that. But I do want to take 
exception to a couple of things my friend Senator Kyl said.
  Let me say at the outset, between 1998 and 2000, under President 
Clinton, our Nation ran a fiscal surplus. It is hard for many people 
now, when they look at a multi-trillion-dollar deficit, to imagine just 
a few years back we did have a surplus. We actually reduced the Federal 
debt in those 2 years by $236 billion, our economy was doing well, 
creating jobs and businesses. That is what President George W. Bush 
inherited when he came to office.
  Between 2001 and 2009, when President George W. Bush was in office, 
the economy grew. Normally you would think this period of economic 
growth would lead to an improved fiscal picture since tax receipts for 
government usually grow with the economy. Instead, under President Bush 
our Nation ran deficits during his term of nearly $7 trillion. The 
cumulative Federal debt more than doubled under President George W. 
Bush, who inherited a surplus from President Clinton. It went up from 
$5.8 trillion in 2001 to $12.7 trillion in 2009.
  At the end of the Bush administration, the economy faced the worst 
crisis since the Great Depression, the recession we are now 
encountering. That is what President Obama inherited when he was sworn 
in 9 months ago. Back in February, the Congressional Budget Office 
estimated that, assuming continuation of budget policies that were in 
effect in January of this year, the Federal budget deficit would 
average more than $1 trillion each year over the next 10 years and 
would climb higher in later years. That estimate was developed based 
completely on the budget policies that the current President inherited 
from the previous President. So to argue that the Nation's fiscal woes 
should be all laid at the doorstep of President Obama overlooks the 
obvious. Given the soaring debts and woeful economy he inherited, it 
certainly is not defensible.
  America will run a fiscal deficit this year and it will be a large 
deficit, there is no question about it. In an economy such as this, 
where there is so little private sector demand, we have tried to create 
through stimulus packages, reinvestment, and recovery good jobs and 
economic activity that will revitalize our economy.
  Why did President Bush have such record-breaking deficits during his 
tenure? I can tell you that he was the first President in the history 
of the United States to call for tax cuts in the midst of a war--in 
fact, in the midst of two wars. Giving tax cuts to the wealthiest 
people in the Nation during a war is counterintuitive. A war is an 
added expense to a nation, over and above the

[[Page 24931]]

ordinary costs of government, and to cut revenue sources by giving tax 
cuts to those in higher income categories drove us deeper and deeper 
into deficit.
  In addition, President Bush during his term passed the Medicare 
Prescription Drug Program. I think it was a good program, although 
there were changes I certainly would have made before I would vote for 
it. But the fact is that the President did not pay for it. It was added 
to the deficit which the current President has inherited. It is little 
wonder then that the debt grew dramatically during President George 
Bush's time in office.
  Having said all of this, we have to do something serious about this 
debt. I think we have to focus on putting this economy back on its 
feet, getting people back to work, making sure that businesses have 
credit, making certain that the money spent by our government is spent 
well, without waste. Those are certainly monumental tasks for us to 
face. But to say that this health care reform is going to add to the 
deficit is to overlook the obvious. President Obama has told Members of 
Congress: Don't send me a health care reform bill if it adds to the 
deficit. The Senate Finance Committee bill that passed this week did 
not add to the deficit. In fact, it reduced the deficit over a 10-year 
period of time. So we have taken President Obama's admonition 
seriously.
  In a week or two, we will start the debate over the future of health 
care in this Nation with the understanding that whatever we do has to 
be paid for, that we cannot leave it as a debt to future generations. 
It is an awesome responsibility and challenge we face. It is one I 
think we are up to, that the American people would feel Congress had 
dropped the ball and had failed if we do not end up with health care 
reform. We have a lot of issues to work out among us. I hope Senator 
Snowe on the Republican side will be joined by other Senators who can 
in good faith join in trying to solve some of these awesome problems we 
face, problems we have inherited. It is a major responsibility and one 
we accept with the leadership of the President to help us find that 
solution.
  I yield the floor and I suggest the absence of a quorum.
  The PRESIDING OFFICER. The clerk will call the roll.
  The bill clerk proceeded to call the roll.
  Mr. SESSIONS. I ask unanimous consent that the order for the quorum 
call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.

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